Binance offloaded $140M in Bitcoin in the last 24 hours

Glassnode information analyzed by CryptoSlate shows that starring speech Binance offloaded $137 cardinal worthy of Bitcoin (BTC) successful the past 24 hours.

Binance reserves successful the past 24 hours

In the meantime, astir $32 cardinal worthy of Ethereum (ETH), $300 cardinal worthy of USD Coin (USDC), and $200 cardinal successful some Binance USD (BUSD) and Tether (USDT) were withdrawn. The full withdrawals equate to implicit $860 million.

Considering that BTC is presently pursuing an upwards trajectory, Binance’s nonaccomplishment could summation successful accordance with the BTC price. At the clip of writing, BTC is being traded for astir $17,390. According to CryptoSlate data, BTC accrued 0.14% successful the past hour. It besides recorded 1.37% and 1.14% spikes successful the past 24 hours and 7 days, respectively.

Binance halts USDC withdrawals

On Dec. 13, Binance’s CEO Changpeng Zhao (CZ) Tweeted to accidental that the speech suspended USDC withdrawals temporarily.

CZ explained that Binance saw an summation successful USDC withdrawals recently. Since the speech converts them 1:1, CZ said that the speech indispensable wage the banks a sojourn to proviso the withdrawal requests.

He said the withdrawals were suspended not due to the fact that the speech lacked the resources but due to the fact that the banks were dilatory successful gathering Binance’s withdrawal demand.

Large transfers that caught the eyes

TRON DAO’s CEO, Justin Sun, said helium deposited 100 cardinal USD into Binance to assistance with Binance’s liquidity crisis.

Sun withdrew $34 cardinal worthy of BUSD and $15.4 cardinal worthy of USDT from Binance earlier connected Dec. 13. He reportedly transferred these funds to Paxos and Circle to currency out, and said that these transactions were “just mean concern cooperation.”

In the meantime, according to crypto newsman Wu Blockchain, Wintermute reportedly withdrew $153 cardinal worthy of USDC from Coinbase and transferred astir $150 cardinal of it to Binance.

The station Binance offloaded $140M successful Bitcoin successful the past 24 hours appeared archetypal connected CryptoSlate.